coindesk.com
The U.S. Securities and Exchange Commission is suing crypto exchange Binance and its CEO, Changpeng "CZ" Zhao on allegations of violating federal securities laws on Monday.
According to various news reports, the SEC is alleging Binance operated an unlicensed stock exchange, among other issues.
An SEC lawsuit would add to allegations brought in March of this year by the U.S. regulator Commodity Futures Trading Commission (CFTC) that Binance and its founder Changpeng Zhao knowingly offered unregistered crypto derivatives products in the U.S. against federal law.
“We do not comment on the existence or nonexistence of a possible investigation or enforcement action,” said an SEC representative via email last week. SEC and Binance spokespeople did not immediately return requests for comment on Monday.